High Car Prices Increase Risk of Improper Repossession by Lenders, Servicers, and Investors
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the heated auto market. A compliance bulletin issued today reveals conduct observed during CFPB examinations and enforcement actions, including the illegal seizure of cars, sloppy record keeping, unreliable balance statements, and ransom for personal property.
CFPB takes aim at Illegal Auto Repossessions – CFPB – The Consumer Financial Protection Bureau
More Stories
Auto Lending Accelerates as Borrower Credit Quality Slips
After the Repo: When Does a Credit Union Finally Admit the Loss?
Auto Lending Is Moving Down the Credit Risk Ladder – Collections and Repo May Follow
Holmes Motors to Pay $137,000 Over Alleged Violations of Servicemembers’ Vehicle Lease Rights
Credit Unions Can Now Share More Fraud Intelligence Than Ever Before
Feds Charge 83-Year-Old Woman in Alleged $10 Million Auto Lending Ponzi Scheme